Acco Brands Corporation filed SEC Form 8-K: Entry into a Material Definitive Agreement, Results of Operations and Financial Condition, Financial Statements and Exhibits
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SECURITIES AND EXCHANGE COMMISSION
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Current Report
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Section 1 - Registrant's Business and Operations
Item 1.01. Entry into a Material Definitive Agreement
Effective October 30, 2024, ACCO Brands Corporation (the “Company”) entered into a Seventh Amendment (the “Seventh Amendment”) to its Third Amended and Restated Credit Agreement, as amended (the “Credit Agreement”), among the Company, certain subsidiaries of the Company, Bank of America, N.A., as administrative agent, and the other lenders party thereto. Pursuant to the Seventh Amendment, the Credit Agreement was amended to, among other things:
No changes were made to the financial covenants and the pricing was updated as follows:
Level |
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Consolidated Leverage Ratio |
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SOFR Spread |
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Undrawn Fee |
I |
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> 4.25x |
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225 bps |
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37.5 bps |
II |
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> 3.50x |
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200 bps |
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35.0 bps |
III |
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> 2.50x |
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175 bps |
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30.0 bps |
IV |
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≤ 2.50x |
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150 bps |
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25.0 bps |
After giving effect to the Seventh Amendment, the current multi-currency revolving facility provides for outstanding borrowings not to exceed $467.5 million.
The foregoing summary of the Seventh Amendment does not purport to be complete and is qualified in its entirety by reference to the Seventh Amendment, a copy of which is filed as Exhibit 10.1 and incorporated by reference herein.
Section 2 - Financial Information
Item 2.02. Results of Operations and Financial Condition
On October 31, 2024, ACCO Brands Corporation (the "Company") announced its results for the period ended September 30, 2024. Attached as Exhibit 99.1 is a copy of the press release relating to the Company's results, which is incorporated herein by reference.
The information included or incorporated by reference in this Current Report on Form 8-K under this Item 2.02 is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Section 9 - Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
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Seventh Amendment to Third Amended and Restated Credit Agreement, dated October 30, 2024, among the Company, certain subsidiaries of the Company, Bank of America, N.A., as administrative agent, and the other lenders party thereto. |
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Press release of the Company announcing results for the period ended September 30, 2024. |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ACCO Brands Corporation (Registrant) |
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Date: |
October 31, 2024 |
By: |
/s/ Deborah A. O'Connor |
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Name: Deborah A. O'Connor |
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Title: Executive Vice President |
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and Chief Financial Officer |
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